KUALA LUMPUR, Jan 7 (Bernama) -- Century Bond Bhd's wholly-owned unit, CB Bags Sdn Bhd, has signed an agreement to buy the remaining 30 per cent equity in Prestige Packages (Perlis) Sdn Bhd from Cement Industries of Malaysia Bhd (CIMA).
In a filing to Bursa Malaysia today, Century Bond said, CB Bags, which current has 70 per cent stake in Prestige Packages, would pay RM2.89 million for the stake.
Century Bond said the acquisition would result in Prestige Packages becoming a wholly-owned unit of the company and enable it to gain full control and direction of the company.
The company said the purchase price was arrived on a willing buyer-willing seller basis and after taking into consideration the net asset of Prestige Packages of RM9.64 million based on the management accounts as at Sept 30, 2015.
The purchase consideration would be sourced from internal funds of the company, it said.
-- BERNAMA
No comments:
Post a Comment